by IV hydration therapy provides intravenous administration of fluids including electrolytes and medications directly into the bloodstream. It is used to treat dehydration, electrolyte imbalances, and administer medications when the oral route is not feasible. The growing prevalence of chronic diseases needing extensive IV therapy and rise in trend of day-case surgeries are fueling the demand for IV hydration.
The global Europe IV Hydration Therapy Market is estimated to be valued at US$ 261.68 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing prevalence of chronic diseases is one of the major factors propelling the growth of the Europe IV hydration therapy market over the forecast period. Chronic diseases such as cancer, diabetes, cardiovascular diseases, and neurological disorders require long term medical treatment involving IV administration of fluids, nutrients, blood transfusions, and medications. According to the European Commission, chronic diseases account for 86% of all deaths in Europe annually. As conventional cancer drugs become more intensive and target specific, greater usage of IV hydration is expected. Continuous development of advanced therapy solutions is improving treatment efficiency and efficacy for various chronic conditions through customized IV administration specific to patient needs. This is expected to significantly boost the demand for IV hydration therapy in Europe in the coming years.
SWOT Analysis
Strength: Europe IV Hydration Therapy Market has the advantage of government support through reimbursement policies in developed countries. Rising aging population and increasing funds for healthcare infrastructure are driving demand.
Weakness: High costs associated with IV fluid therapy and related equipment is a major challenge. Side effects associated with improper dosing or administration of IV fluids can negatively impact the market.
Opportunity: Growing popularity of ambulatory IV therapy centers as well as at-home IV therapy services are opening new opportunities. Expanding indications for IV therapies in chronic diseases will boost the market.
Threats: Shortage of skilled professionals for proper administration of IV fluids poses a threat. Stringent regulations can delay new product approvals. Alternative oral rehydration methods also affect market growth to some extent.
Key Takeaways
The Europe IV Hydration Therapy Market Size is projected to witness strong growth between 2023-2030 supported by rising incidence of chronic diseases requiring IV supplementation. The global Europe IV Hydration Therapy Market is estimated to be valued at US$ 261.68 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.
Key players operating in the Europe IV Hydration Therapy Market are Thermo Fisher Scientific Inc, Bio-rad Laboratories Inc, B. Braun Melsungen AG, and ICU Medical Inc. Thermo Fisher dominated the market with their large product portfolio used in clinical trials and research applications.
Expanding therapeutic applications of IV fluids in cancer, gastrointestinal disorders and hangover treatment are expanding growth opportunities. Several startups are launching on-demand IV therapy services to capitalize on working population demand. However, strict regulations around sterile practices and skilled professionals pose compliance challenges.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
